Sweden's Nils van der Poel skated a blistering last lap to snatch the gold medal in the 5,000 meters speed skating at the Beijing Olympics on Sunday, ending Dutchman Sven Kramer's 12-year monopoly of the title.

The Swede, who broke the world record at Salt Lake City two months ago, trailed Dutchman Patrick Roest by more than a second throughout the race but stormed to victory in an Olympic record time of six minutes 08.84 seconds.

"I was keeping it steady and feeling confident halfway through the race ... But then when the second 29.3 (laptime) came up I thought 'shit I've got to go now,' " he said.

"I was launching for it and it was the Olympic race, that was all I had."

After crossing the line, Van der Poel took off his glasses and his hood before raising his arms in the air in triumph with a smile on his face.

Roest, who had also skated an Olympic record time in his earlier race, took silver in 6.09.31 while Norwegian Hallgeir Engebraaten claimed the bronze in 6.09.88.

"It's a nice feeling to win silver but we were so close to the gold medal," said Roest, who looked dejected as he spoke to media. He was seen clutching his hair as he watched Van der Poel race.

"It was a good race until the end. I tried everything but on the laps I wanted, I couldn't do the times I wanted."

Three-times champion Kramer, whose domination of the event spanned three Olympics, placed ninth overall out of 20 skaters.

Beijing will be the 35-year-old's last Winter Games before he retires from the sport.